L3 YR1 Unit 301 session 6b Self-Employment: Pros and Cons

What is one major benefit of being self-employed as mentioned in the introduction?

• Fixed work hours

• Pursuing personal dreams

• Job security

• Guaranteed promotions

Why might someone prefer self-employment?

• Being their own boss

• Guaranteed job security

• Corporate benefits

• Fixed salary

Which aspect of self-employment contributes to an ideal work-life balance?

• Limited tax breaks

• Flexible work locations

• Long commuting hours

• Fixed project types

What financial advantage does self-employment offer regarding taxes?

• Higher tax rates

• Mandatory tax contributions

• Claiming expenses against income

• Fixed income tax

How can self-employed individuals reduce their tax bill?

• By working fewer hours

• Through claiming expenses

• Receiving bonuses

• By securing promotions

What is a significant drawback of being self-employed?

• Fixed working hours

• Regular promotions

• Job security

• Stable income

What is a common challenge faced by self-employed individuals regarding income?

• Automatic salary increments

• Seeking regular job opportunities

• Receiving holiday pay

• Job security

Which option is not a benefit of being self-employed?

• Choosing interesting projects

• Claiming tax breaks

• Holiday and sick pay

• Working from home

What might self-employed individuals have to consider about their work hours?

• Mandatory early mornings

• Working long hours or weekends

• Flexible scheduling

• Strict office hours

What is a potential cost for self-employed individuals working for a company?

• Transportation costs

• Renting office or desk space

• Employee training programs

• Health insurance